Pandemic threatens to further gulf between big and small businesses

 

With the number of new COVID-19 cases on the rise, and more shutdowns a possibility for the near future, the pandemic threatens to further the divide between big and small businesses.

According to the Canadian Federation of Independent Business (CFIB), big businesses, such as Amazon, are doing better than last year, while small businesses are falling even further behind--62 per cent are still below their normal revenues.

“Most of us don’t think too much about where we shop--if we can get everything we need with a few clicks or if we assume a big box store carries the best value, we may overlook the hundreds of small businesses around us that offer fantastic products and services while creating jobs and giving back to our communities,” Laura Jones, executive vice-president for CFIB, said in a news release.

“When we choose to shop local, we choose to keep the money we spend in our economy, to support Canadian jobs and to invest in the businesses that make our communities vibrant. It’s a choice we can all feel good about," she continued.

Additionally, based on a survey conducted by Maru/Matchbox, Canadians are planning on spending the majority of their holiday budget this year--66 per cent--at big businesses, such as Amazon.

“Small and big businesses didn’t enter the pandemic on a level playing field and things have only gotten worse. During lockdowns, big box stores like Costco and Walmart were allowed to remain open and sell all kinds of goods because they have grocery sections, while many small businesses were shut down. Small businesses really need a good holiday season to even things out,” Dan Kelly, president of CFIB, said in the same release.

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